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Daily Market News By FXNET
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[QUOTE="FxNet, post: 57535, member: 19407"] [b]Market Report 16 Jan[/b] Asian Session - Aussie suffers big losses jobs data The Australian dollar suffered heavy losses in the wake of the release of the December employment report. Jobs in Australia decreased by 22,600 last month, following November’s revised 15,400 gain, according to the country’s statistics bureau. This was a huge miss compared with a 10,000 increase predicted by economists. The unemployment rate remained at 5.8 percent. AUDUSD tumbled over 100 pips after the data, falling to a low of $0.8794 from a pre-data level of $0.8903. On Monday the aussie hit a one-month high of $0.9085. The US dollar continued to be the best performer as growing consensus in markets is that the Federal Reserve will continue with tapering on speculation the US economic recovery is strong enough. Lending support to the dollar is stronger than expected manufacturing and PPI data and an upbeat Empire State manufacturing index from Tuesday. The dollar rose for a third day against the yen, its longest advance this month, reaching a high of 104.91. Initial jobless claims data in the US will be released today and will be the next risk event for the dollar. The figure for claims the previous week (period ending January 11) is forecast to fall by 328,000, which would be the fewest since November. The prior number was 330,000. EURUSD opened in Asia at $1.3602 after trading as low as $1.3581 yesterday. The pair rose to $1.3627. EURJPY rose in tandem with USDJPY, up from 142.23 early to highs of 142.90 yen. GBPUSD trading was more muted however, as the pair traded a range between $1.6345 and $1.6373. In the upcoming European session, a key risk event for the euro will be Eurozone inflation data (CPI). [/QUOTE]
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